BITCOIN.. CALM BEFORE THE STORM.

Bitcoin is currently still holding one of the most important levels of support while we are in fact about to be having another breakout and currently I need to discuss the most important levels of support and resistance the most important charts which are telling us something about what is going to be happening next month on bitcoin the fear and greed index the funding rates and many more important charts that are telling us something about what is currently playing out in the market so without any further we do don't forget to slap the like button back above 1,000 likes on today's upd the video and with that being said let me jump straight away into towards the content so first of all on the imminent short term Bitcoin is creating a symmetrical triangle with a downward sloping resist line here on the 30 minute time frame and an upward sloping support line right here so currently we can see that clearly there's a new breakout imminent for Bitcoin and this is likely to be happening in the coming next hours and really the price targets of this exact breakout are not going to be so significant but on the breakout I think Bitcoin is at least going to be breaking out to $61,000 if we are going to be seeing a bullish breakout or we're going to be breaking down towards the level of around $57,000 so those are the two price targets I'm currently aiming for for this next Bitcoin move that we're currently about to be creating but currently what we're just seeing on bitcoin is just another consolidation phase after we had that big massive move to towards the downside but of course what I want you to know about is that September is actually quite a bad month for Bitcoin because if we're just looking at history September is obviously a very bad month for Bitcoin because if we're looking at the historic performance of Bitcoin in the month of September most of the months they have actually been quite bad for Bitcoin and last year it was positive approximately September we tend to see very red months for Bitcoin so our are we going to be having another red month for Bitcoin in September it is most likely going to be happening but of course it's never going to be certained because it is Bitcoin but at the same time we can see that currently the fair and greed index is hitting levels not seen since Bitcoin was trading around $30,000 us and currently we're trading of course around $60,000 us and at the same time the fending rates are trading negative and that is a very great thing to see here because W defending rates are Nega netive for a Bitcoin right now it means basically that Bitcoin is heavily getting shorted so while the funding rates are currently negative on bitcoin it basically means that the market is halfly getting shorted while we already are compressed on a low and the more shorts that are getting loaded on the market the higher Bitcoin adventage is going to be going and if we're going to be looking at the Bitcoin liquidation heat map on the bigger perspective we can currently see that there is a majority of liquidity being built up above us there's more than 10 billion US worth Bitcoin short liquidations being built up above us right now around that level around 72 to 74,000 us So eventually I believe that there's going to be a big short liquidation for Bitcoin and that is why I ultimately think Bitcoin is going to be going higher and I mean currently still we can see that Bitcoin is holding this most important level of support here and just like I said in yesterday's video as long as we're holding this level of support I don't believe there's going to be any big reason to be panicking about Bitcoin if we however do break below this level I think the next Target for Bitcoin is going to be around $50,000 but as long as we're holding this level I think Bitcoin can still bounce back towards $62,000 and if we can then break above that level we could most likely bounce towards new altim eyes for Bitcoin as well so Bitcoin is not looking bad until we're breaking below this very important green box I have just drawn of this chart right here and yes guys we are currently indeed still continuing the downtrend on the bigger respective so if you want to be opening up any trades on bitcoin if you feel like it don't forget to go to the link description of today's video because because if you currently sign up an account using the highest link description of today's video you can currently get a free insane $500 US Air drop position and if you currently sign up an account using that link in the description of today's video guys you can currently claim a free $500 US ad rep position on buybit which is extremely valuable that you can currently claim here so if you're interested in that don't forget to check it out in the link description of today's video video but anyways if we're currently looking at Bitcoin we're still creating a massive bull flag pattern we're still creating a massive cup and handle pattern and in the bigger perspective nothing is really changing for Bitcoin so I can really repeat all the things I've said in the previous videos but all I did discuss in this video was of course the imminent shortterm what is currently playing out on bitcoin because currently I believe that is the most important things I need to discuss for today's update video so yeah that was it for me in today's update video it was definitely a short one but if you did enjoy it don't forget slap that like button on today's up the video I uploaded this video a little bit early today but yeah that's because I've got some things going on privately but anyways if you did enjoy this video don't forget to slap that like button subscribe to the channel and I see you guys on the next one peace out goodbye